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Mangaluru, Oct 22: A Mangaluru resident has fallen victim to a ₹20 lakh scam after being lured into a fraudulent investment scheme by individuals posing as representatives of J.P. Morgan India. The case, filed at Kadri police station, highlights the growing threat of investment fraud in the region.

The victim, whose identity has not been disclosed, was contacted on September 24 by a man named Vishwanathan, who falsely introduced himself as the Chief Investment Strategist for J.P. Morgan India. Shortly after, a woman named Neeta Sharma reached out, using multiple phone numbers to convince the victim of her association with the prestigious financial firm. She shared a company link and urged the victim to invest ₹20 lakh, promising high returns.

On October 14, after being convinced by Neeta's claims, the victim transferred ₹20 lakh to the fraudulent account. Following this, Neeta instructed the victim to purchase 1,000 shares at ₹240 per share, which he did. The next day, she advised buying 7,900 more shares at ₹250.95 each, further strengthening her false credibility.

However, trouble arose when Neeta told the victim to withdraw the invested amount. Instead of receiving the full sum, the victim was sent only ₹1,500, transferred from an unknown account. When questioned, Neeta could not provide a clear explanation for the discrepancies.

Sensing the deceit, the victim demanded a full refund of his investment. Neeta, however, brazenly asked for an additional ₹4 lakh, prompting the victim to realize the extent of the fraud. He then filed a formal complaint with the Kadri police.

This incident serves as a critical reminder for the public to remain vigilant against fraudulent schemes, particularly those involving investment promises from unverified sources. Always ensure that you verify the legitimacy of financial institutions and representatives before transferring funds. 

The Kadri police are investigating the case and have urged the public to stay alert and report any suspicious investment schemes.

Tips to Protect Yourself from Investment Scams:

1.    Verify Credentials: Always cross-check the credentials of anyone claiming to represent a reputable financial institution. Use official contact information from the company's website to verify.

2.    Be Skeptical of Unsolicited Offers: Be cautious of unexpected investment offers, especially those that promise unusually high returns.

3.    Conduct Thorough Research: Before investing, investigate the company and the proposed investment thoroughly. Look for reviews, ratings, and any red flags.

4.    Report Suspicious Activity: If you suspect a scam, report it immediately to local authorities or financial regulatory bodies to prevent further fraud.

Jeddah: The Khaja Banda Nawaz College of Engineering Alumni Jeddah Chapter hosted its Annual Event 2024, bringing together a diverse group of alumni from the esteemed KBN College of Engineering, Gulbarga.

The event featured Engr. Mohammed Abdul Nayeem, General Manager of MASAH Specialized Construction Company, as the Chief Guest, alongside Guests of Honor Engr. Syed Nasir Khurshid, Advisor to the KBNCE Alumni, and Mr. Abdul Majeed Badruddin, Managing Director and CEO of Universal Inspection Company. Presiding over the ceremony was Engr. Saleh bin Ali, President of the Alumni Chapter.

Engr. Nayeem, in his keynote address, shared his inspiring journey to the top of the construction industry, urging attendees to embrace challenges and strive for excellence. He praised the KBN Education Society for its visionary leadership, which has empowered countless alumni to become successful engineers. He also honored the legacy of the late Sajjade Saheb Syed Shah Mohammed ul Hussaini, recognizing his dedication to community empowerment through education.

Engr. Syed Nasir Khurshid commended Engr. Nayeem's significant achievements and entrepreneurial success, urging young alumni to follow in his footsteps. He also lauded Mr. Badruddin for his contributions to the community and ongoing support of the alumni chapter, encouraging attendees to consider Universal Inspection Company's services for their projects. Engr. Khurshid further asked the attendees to pray for the health of Mr. Khusro Hussaini, the Sajjada Nasheen and Chairman of the KBN Society, and acknowledged the support of Madam Ruksar Fatima, Dean of KBN University, and Chancellor Mr. Ali Hussaini.

Mr. Abdul Majeed Badruddin, renowned for holding multiple world records, shared insights into his entrepreneurial journey, including the expansion of his company to Madinah Al-Munawwara. His emphasis on morning prayers and self-confidence struck a chord with the audience.

Engr. Saleh bin Ali spoke about the remarkable growth of the KBN Education Society, which has evolved from a girls' school in 1956 to a prestigious university ranked 5th in Karnataka and 31st in India among private universities, according to the 2024 Outlook survey. He encouraged alumni to contribute actively to their fields and embrace continuous upskilling in an ever-changing world.

The event was seamlessly hosted by Alumni General Secretary Engr. Amjad Ali, beginning with a Quran recitation by Hafiz Mohammed Hamad and a welcoming address by Alumni Vice President Engr. Mohammed Yahiya. Engr. Syed Mohiuddin, another Alumni Vice President, stressed the importance of staying connected with the alumni network. Chief Coordinator Engr. Mohammed Aejaz Uddin outlined the alumni’s achievements, emphasizing the role of emotional intelligence in the workplace, while Engr. Mohammed Abdul Ameed provided valuable career advice, and Engr. Mohammed Mujtaba Yaseen shared tips for financial freedom.

A special presentation by Engr. Abdul Bari, Head of PMO at MASAH Construction Company, highlighted innovations in the construction industry. The event concluded with heartfelt thanks from Alumni Treasurer Engr. Abubakr Bin Hussain, followed by a group photo session, capturing the unity and collaborative spirit of the alumni.

The Annual Event 2024 was a resounding success, inspiring attendees and strengthening the bonds within the KBN alumni community.

Mangaluru: In a shocking case of cyber fraud, an engineer from Mangaluru lost ₹30 lakh after being deceived by a scammer posing as a Mumbai police head constable.

On October 10, the engineer received a phone call, during which the scammer falsely claimed that 25 fraudulent bank accounts had been opened in his name. The caller alleged these accounts were being used for illegal transactions and urged the victim to act immediately to avoid legal trouble.

The scammer manipulated the engineer into believing that all funds in his personal bank account needed to be transferred for "verification" by the Reserve Bank of India (RBI). In a state of panic, the victim complied, transferring ₹30 lakh to multiple accounts provided by the fraudster.

Adding to the deception, the victim was told to send WhatsApp updates every 20 minutes to track the "progress." Realizing the fraud only after the transfers were completed, the victim filed a complaint, and a case has been registered at the Bajpe police station.

This incident serves as a stark reminder for the public to stay cautious and verify information before acting on unsolicited calls, especially those involving sensitive financial details.